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Growth in Consumer Spending Slows,
While May Personal Income Rises 0.4%

By

Nicholas KulishStaff Reporter of The Wall Street Journal

Updated July 3, 2000 6:49 a.m. ET

WASHINGTON -- New data continue to support the view that the U.S. economy began cooling in the second quarter.

Slower growth in spending continued in May, the government said, while consumer confidence slipped in June. On the plus side, personal-income growth remained strong and an important inflation indicator remained flat in May.